Category Archives: Buying A Home

These 7 Steps in the Buyer Consultation will Save You Money and Time

I would like to thank you for taking the time to read our story about the home buying process and the buyer consultation process. Our goal is to help home buyers understand the steps in purchasing a home and how they can save time and money. We would love to hear from you if you have any questions. You can reach us directly at ernie@gonzalesteam.com or 702-291-8126. Because you deserve the best service when buying a home contact us for a buyer consultation appointment.

On Sunday evening we were cleaning up the garage when a car pulled up to the house across the street that is for sale. That is a whole different story why we have a house across the street that we don’t have listed. It is a sad situation because our dear neighbors lost their house to the bank.

A family jumped out of the car and started looking in the windows and peeking over the fence of the vacant home. We watched to see if a real estate agent would show up to show the home to them. No one ever did so Ernie asked if they wanted to go into the home to take a tour. Of course they were very excited and accepted his invitation to view the home. We have lived across the street from this house for many years and have even sold it twice in the past so Ernie was able to give them a lot of information. The family was so excited looking through the home. The kids were picking out their rooms. They even claimed the loft as their toy room. Mom and Dad were placing their furniture and they wanted to know more about the neighborhood, schools, and shopping in the area. As a buyer these are the experiences that you enjoy as you house shop. And your real estate agent should help guide you through them.

This family was so sweet and very excited about the home. As they walked through Ernie asked if they were working with an agent? They told Ernie that they had called an agent to start the buying process with. They had never met with her and she told them to drive around on their own and look at homes. She instructed them once they found a home that they liked they should call her to view it.

Ernie was in utter shock as to how the real estate agent was handling this situation. You see we make it a point to have a buyer consultation appointment with every one of our clients. How else would we know how to help them get into a house in the least amount of time and with the least amount of money. For some reason this is the step that most agents skip. Either they think it is a waste of time or they don’t know how to show the client it is the best process for them to buy a house. Don’t get bad service, you deserve the best contact the Gonzales Team today to ask about a buyer consultation.

Buyer Consultation Process

The buyer consultation is one of the most important steps in the buying process. It can be time consuming depending upon your situation, but our job as a real estate agent is to find out what the buyers needs and wants are. What better way than a buyer consultation to do that.

During a buyer consultation it is best to meet in our office because there is so much information to go over. It can take anywhere from 30 minutes to 3 hours. This is all dependent up on you the buyer not us the agents. If you need more from us we are willing to give it to ensure you get your dream home.

First we go over what your family needs and wants are for a new home. Such as bedrooms, living spaces, bathrooms, garage, kitchen, backyard, storage, and overall feel of the home.

Next we will go over the wants and needs for the neighborhood. Such as schools zones, style, restrictions, no restrictions, proximity to work, and desire area.

Then we will go over your must haves that you can’t live without. This can be different for each family depending on lifestyle. Some examples would be; Proximity to work, If you want a short commute living next to work would be a must have. Garage size, If you need lots of storage for tools and hobbies an oversized garage would be a must have. Bedroom downstairs, Maybe your mother-in-law is moving in with you or will be visiting frequently and they can’t maneuver steps anymore this would be a must have.

Then we go over the current market conditions so that you know what you will be getting yourself into. Are we in a Buyer’s market or a Seller’s market? Are Seller’s contributing to Buyer’s closing costs, and if so what is the customary amount and items that a Seller pays? What are the average days on market? Being prepared on the market conditions plays a bigger role in purchasing a home than you think. It can even save you money, time and from losing that perfect home in the long run.

Next we will have you speak with a local lender to see what your buying power is. For some Buyers this is the scariest part about buying a home. Particularly if you don’t know what your current credit scores are. The lender will not only look at your credit but they will help counsel you to the best loan program for your situation. If they are a good lender they will discuss many options with you including down payment assistance programs so you come in with less money.

We will go over all the legal documents in a non stressful environment so that when you write an offer you know what you are signing. If you don’t go through them during a buyer consultation you could be rushed to sign off on a contract so that you don’t get out bid by another buyer on a house. This way you will feel so much more comfortable if we are ever in that situation.

Finally we we start looking at homes and neighborhoods that match your criteria.This is the fun part. It is like window shopping to see what your options are. Then we will take you on a neighborhood and house tour. If we have done our job correctly we will only be viewing homes that match your needs and wants.

This simple step ensures you will not be wasting your time and gas looking at the wrong homes and even looking at homes that already have an offer on them. How would the buyer that we met on Sunday have known if the house had an offer on it. They would find the home driving around, fall in love with it and then call the agent to get more information (like she instructed) to only have their heart broken that is wasn’t even available for them to buy. Why would we do this to our clients. It sounds like torture honestly.

The bottom-line is, a buyer consultation can save you as the buyer so much time and effort when looking at homes. If you would like more information on a buyer consultation or would like to set an appointment for a buyer consultation please contact us directly at 702-291-8126 or you can email if you prefer to ernie@gonzalesteam.com or even fill out the contact form below. We would love to hear from you on your thoughts. Because you deserve the best service when buying a home contact us for a buyer consultation appointment.

Find Out Why More People Sell Their Henderson Home With Us

By Phone 702-291-8126

For the last 16 years I have worked in the local Henderson real estate market everyday and today I had a huge AHA moment. We as agents who do the sales process every day in and out and can change our business practices with the shifts without missing a beat. This includes the new unusual contingencies we have to remove, timeframes, multiple offers, odd counters and much more that we all deal with everyday. Well today I had to take a step back and realize that our clients are not as comfortable with the common local market place practices as we are. Well picture this: We have been working with a family relocating to the Las Vegas area for a few weeks taking the steps to best help them like going over their needs and wants, setting them on a customized search, sending homes to view online, doing further research on homes that they love, and answering all their questions about the area. We have helped 1000’s of clients relocating to the Las Vega Valley including Henderson for over 16 years. We have this process down and have many resources in place for our clients to make this a positive experience. This was going to be a piece of cake to help this family with a smooth transition.The day finally came when they made the call that they were going to make long treck to come visit homes. We heard from them on a Tuesday that they were going to travel to Henderson in two days. In those two days we worked to set everything into motion for our clients to take advantage of the short period of time that they would be here. We set up several appointments with listing agents to view homes and even planned time for any changes or obstacles that might happen during the home hunt. During their quick home search we were very lucky to narrow the search to our top 3 homes. Which is awesome!! Wait this is where the moment happens. This particular relocation buyer was referred to us from a out of state lender that not many local agents have heard of. When the client was ready we sat down with them and went over the entire offer, went over the offer process, went over offer timelines and requested an updated lender letter to send with the offer. Same process that we use with all of our clients. Now this is the tricky part: When we submitted the offer to the listing agent their first concern was the buyer’s lender. In recent years in the Las Vegas area it is a common practice for listing agents to request the buyer speak with a local preferred lender to get a 2nd opinion. This has come into place as a result of the hard hit market we had in 2008. Several buyers who are now buying homes in Henderson had a short sale, job loss, foreclosure or hit by some bad luck on their credit. This is the step that our relocation buyer’s could not understand. They are relocating from a state that wasn’t hit hard during the recession era of 2008. Their local real estate market has not had to shift into steps like this. They were very offended that the seller would require them to speak with a local lender when they want to use their own lender. Luckily we were able to fight for our client through negotiations to remove the contingency. This AHA moment is a lesson learned that an event that seems so harmless and necessary to us the Agents in a transaction is huge and personal to our clients. This subject is now going to have a bigger impact in our Buyer and Seller Consultations going forward. Today in the mastermind group that I run in the office this was a hot topic between the experienced agents and helpful to all the new agents as a new best practice. And I hope that this helps all the other agents out there who are in a market where this is occurring.

About Henderson:

Henderson is only located 16 miles Southeast of downtown Las Vegas and has the small town feel with all the big city amenities. Henderson is situated in the McCullough Mountain range above the city of Las Vegas which affords great views of the city lights. Henderson has a population of 270,811 and is the 2nd largest city in Nevada. Henderson has been ranked by Forbes magazine as America’s Second Safest City 2011. Bloomberg Businessweek named Henderson “One of the best cities to live in America” and in 2014, the FBI Uniform Crime Report ranked Henderson as one of the top 10 Safest Cities in the United States. Henderson features many master planned communities for residents of all stages of life and interests.

Henderson communities include:

What has recently sold in Henderson Nevada

I want to help you with your real estate needs so if you are considering selling your home or purchasing a new home in the Henderson area I would appreciate the opportunity to earn your business and exceed your expectations with our comprehensive online marketing plan and hands-on professional guidance for all your real estate needs. Work with me!

Call Ernie Gonzales at 702-291-8126 or email me at ernie@gonzalesteam.com

Why is a Home Inspection Important?

As a real estate agent I can’t express how important obtaining a home inspection is in both buying and selling a home. And yes that is not a typo I did say in both buying and selling a home. believe it or not I have had clients decline the option to request a home inspection on their contract to purchase a home. Buying a home is a major purchase and I suggest that you know what you are getting into before you own it. At the least the home inspection can at least shed some light onto what you will need to address once the home is yours. As a seller it will be an eye opener. Find a list of top rated home inspectors.

Why do I need a home inspection when buying a Home

For the most obvious reason when you are purchasing a new home home it is smart to obtain a home inspection to protect yourself from major structural, electrical, or water damage. The other cosmetic stuff is nice to know also. When you are buying a home in Henderson and you have negotiated the contract you will have a due diligence period in which to have all inspections completed. On the contract there are many different types of inspections that you can request such as mechanical inspection, structural inspection, pool/spa inspection, and termite inspection just to name a few. You as the buyer can request as many inspections as you want however it is typically the buyers responsibility to pay for them. The best way to determine what type of inspections that you might request are based on disclosures from the seller, information about the home on the Multiple Listing Service, information from the neighbors, any damage seen on visual inspection or just anything that concerns you prior to moving into a new home.

How to choose a home inspection company?

When it is time to perform inspections you will have the choice of inspectors to choose from. We have a list of companies that past clients have used to provide to you however you can always use your own company. One thing that I do highly suggest is to always call and interview any inspection company you choose with questions and concerns. Find a list of questions to ask a home inspector.

What is on a home inspection report?

The inspection report is a very thorough report on all the mechanical functions and a visual check of all aspects of the home. These items include but are not limited to; water, electrical, leaks, corrosion, air conditioner, heater, water heater, thermostats, dishwasher, garbage disposal, fire safety, pool and spa, pool equipment, lighting, stove, oven, drywall, and much more. The inspector is a critical backup to our visit to the home to make sure that we didn’t miss anything when you fell in love and decided to write an offer. Depending upon the home inspection company that you choose to perform the inspection, typically you will receive a 50 page report with photos and a summary page with the items the inspector deems the most concerning. With the summary page in hand you will be able to request repairs from the seller or have the documentation to have an item of concern further inspected. From start to finish the home inspection process can take 1 to 3 hours to complete. This does not always include the final report that you will receive at the end. It could take 24 – 48 hours to receive the final report from the inspector. The only time this could be a concern is if we are close to the end of our due diligence period, however we as your agent will monitor that time frame you. If you choose to perform any other inspections you will also receive a written report with the findings.

How much does a home inspection cost?

Size of home, type of home, age of home and whether there is a pool or spa play a factor into the cost of the home inspection. Every home inspection company has a different matrix on the cost of an inspection however lets say you are purchasing a home with the following statistics: 3 bedrooms, 2 bathrooms, 2000 square feet, pool and spa the typical cost will be between $350 – $450 for an inspection. You can find companies that cost less however I would caution to ask the questions prior to hiring a home inspection company based on price. Each inspection you choose will be a separate charge and can add up to be pretty expensive. I always suggest to my clients to start with a mechanical inspection and go over any other areas of concern with the inspector and ask if you should inspect it further. This way you have an expert recommending how to address your concerns. List of local home inspectors that our past clients have used.

Should I attend the home inspection?

It is a good idea to attend the inspection if at all possible however it is not necessary. The inspector will be all over the home in the inspection and following them around might distract them from getting to all aspects of the home in the allotted time. I suggest that if you are going to attend the inspection that you show up the last hour to half-hour to have the inspector show you anything that they have found that they think need to be addressed. At this time you will also be able to ask any questions about other areas that concern you. Remember the inspector is working for you. The inspector will walk you through the home and make sure all your questions are answered. If you are unable to attend the inspection, which happens a lot, you will be able to reach out the inspector by phone or email with any questions.

Why do I need a home inspection when selling a Home?

I mentioned that getting a home inspection prior to selling your home is also a good idea. The home inspector can go through the home and be a disinterested third party to help point out repairs that a buyer might see. This can benefit you the seller because you will be able to address any areas of concern prior to the home going on the market. This can translate into a higher offer and more money in your pocket if the buyer doesn’t see any need for discounts due to repairs they will have to address.

We would love to earn your trust and represent you when you buy or sell in Henderson Nevada area. Contact us today to set up an appointment ernie@gonzalesteam.com or 702-291-8126.

By Phone 702-291-8126

The Home Selection Tour

To Find your Home in Henderson

Once you have completed the buyer consultation and your financing is approved the Gonzales Team Buyers agent will take you out to tour homes. Touring homes, to find your home, can be a fun and exhausting experience all at once especially during the summer. When touring homes in Henderson during the summer the car can get quite hot and several homes will not have power so the air conditioner will not be running. Dehydration and heat exhaustion can sneak up on you during the showings so it is good to have lots of water and wear light clothing.

Touring homes can take 2-5 hours depending upon how many homes you narrow down your search to and how long it will take to write an offer. An ideal number of homes to see in a tour is 4-5 homes. Viewing more than 4-5 homes can become very confusing because they will all start to look the same. The best way to narrow down the number of homes is to go through the homes online, view the pictures and read the descriptions and eliminate anything that doesn’t fit your needs. During the initial process with your agent they would have set you up and search to view homes online so that you can do this step. If you have more than 5 homes to view either we are way off the mark on the search or there are an abundance of homes that match your criteria and maybe we need to add some more criteria to the search. When we head out to view homes all decision makers need to go along. You will either ride in the agents car, they will ride with you in your car or you will follow them in your car. It all depends upon how many people are on the home tour and the situation. It is always a good idea to ride in the same car with the agent if possible. Because if you are not familiar with the area they can go over the history of the area and point out amenities that you require.

After touring the homes we will sit down to write an offer and depending upon how many questions you have or how we need to structure the offer it should take a half hour to an hour to complete. During the buyer consultation your Gonzales Team agent will give you a copy of a blank purchase agreement and all the Nevada Disclosures to preview before writing a offer. This way once we get to this step you will already know what items are needed and would have had the opportunity to discuss any questions that you have in regards to the purchase agreement and the market.

Suggestions to Find Your Home in Henderson and Prepare for Touring Homes:

Charge your phone, camera or video camera to take pictures and videos to remember the home during the offer process.

Bring snacks that will not melt in the heat such as granola bars, trail mix or crackers

Wear comfortable shoes and loose clothing, we will be doing a lot of walking.

In the Gonzales Team buyer consultation you will receive note pages for you to write notes to remember the home and why you loved it and what stands out. Examples; Dining room big enough for Sunday dinners with family, play room for kids, amazing backyard for entertaining.

Rate the homes once you walk out the door. What home is number 1, 2, or 3. Throw out any that are under #3.

Bring lots of water. During the summer months if you want cold water it is a good idea to freeze the water bottles.

Be prepared to write an offer with a check book for earnest money deposit and your pre approval lender letter.

If your children will be with you during the buyer consultation and home tour it is a good idea to bring something to entertain them like a tablet, phone, video game or coloring books.

NOTE: Most important tip in a Seller’s Market; Don’t forget that all decision makers should be on the home tour because to find a home in certain market situations can be difficult and if you don’t write an offer immediately you could lose out on an amazing home.

Image courtesy of [couple with laptop and mobile by Ambro] at FreeDigitalPhotos.net

Find Out Why More People Sell Their Henderson Home With Us

By Phone 702-291-8126

My Lender Says We Need an Appraisal, Why?

What is an appraisal?

My lender says we need to pay for an appraisal upfront after our offer was accepted. What is an appraisal and why do I need it? An appraisal is much like the comparative market analysis that your real estate agent did when you were determining the market value of the home before you wrote the offer. However an appraisal is done by an Appraiser. The Appraiser will look at comparable homes within a certain distance, with the same features and square footage. They will make adjustments if there are no identical model matches.

After you have an accepted offer and meet with the lender to complete the loan application they will more than likely request you to pay for the appraisal upfront. If you have negotiated for the seller to pay for the appraisal you will be reimbursed the appraisal fee through escrow from the seller at the closing. The Appraiser is a third disinterested party that the lender hires to determine the market value of the home to protect their interests. An appraisal is done on every home before a loan is granted to the borrower. If you are buying a home cash you don’t need an appraisal unless you want to pay for one.

The Appraiser will go to the home to view the condition, take measurements and pictures. The Appraisers sole job is to determine the market value of the subject home. They do not use the executed offer to determine the value so the appraisal can sometimes either be below or above the sales price. Most of the time the appraisal is just fine and will come in at the sales price. If the appraisal comes in higher it doesn’t mean you will pay more you will pay only the agreed upon sales price. If the appraisal comes in lower than sales price you have a couple of options per our Nevada Offer to Purchase. You, the buyer, can pay the difference in cash if your lender will allow it. The seller may lower the price to meet the appraised value. The last option is that you, the buyer, walk away from the transaction and receive your earnest money back unless the executed contract says differently.

There are three approaches to an appraisal.

Cost Approach – Usually used for replacement value of the property so the buyer will not pay more for a property than it would cost to build an equivalent

The Sales Comparison Approach – Usually used in a owner occupied buyer transaction. The Sales Approach compares a property’s characteristics with those of comparable properties that have recently sold in similar transactions.

The Income Approach – Usually used when an Investor is purchasing a investment property. The Income approach also compares a property’s characteristics with those of comparable properties that have recently sold in similar transactions.

As stated previously Appraisers will make adjustment in values if there are no exact model matches. Some of the items that may be adjusted are; price per square foot, 2 car garage v. no garage or 3 car garage, pool or no pool, differences in lot sizes, covered patios, bathrooms, basements, security gates, full landscaping v. none, views. remodeling or any builders upgrades.

The lender orders the appraisal and the appraisal will be delivered to the lender once it is complete. If there are no issues with the appraisal and the estimated value we will not hear anything other than the appraisal came in. If there is an issue the lender will contact the Buyer’s Agent to present the appraisal issues to be dealt with. Sometimes the issues aren’t even about value, sometimes they are repairs to be completed prior to the appraiser signing off on the value. Now what type of repairs will be addressed will more than likely depend upon what type of loan you are getting. While you are looking at homes your Gonzales Team real estate agent will be able to look out for items that might show up on the appraisal and deal with them prior to the appraisal.

What Happens in the Offer Process?

If you are thinking of selling your property contact the Gonzales Team to receive a FREE Market Insider report. Ernie and Leah Gonzales 702-291-8126

How to write an offer on a house? When you have found the one, the dream home it is time write an offer. This is a very exciting and nervous experience even if you have done this before. However if the Gonzales Team agent has done the Buyer Consultation correctly you will be prepared because you have already gone over all the Nevada Paperwork.

The first step is to determine the amount you are going to offer. We will do this by performing a buyers comparative market analysis just like an appraiser will do. We will look at similar properties that have sold and using the current market conditions determine what the market value is.

Next we will discuss with the lender how we need to structure the finances to ensure you are getting the desired monthly mortgage amount for your budget. The lender will send us a new pre-approval form matching the amount we are going to offer to send with the offer.

finally we will write the offer and go over what contingencies and requests from the seller you would like to add to the contract. Such as paying for closing costs, any personal property you would like to stay with the house, cleaning, repairs, time frames and inspections. In other words anything that can be negotiated. It is good to go over all the notes you wrote during the showing to make sure nothing is missed because if we don’t put it in writing the seller will not be obligated to do any of these items. Your agent will then present the offer with the lender pre approval letter and EMD to the listing agent. The agent will negotiate on your behalf to get you the house of your dreams.

By Phone 702-291-8126

What does Escrow Mean?

If you are thinking of selling your property contact the Gonzales Team to receive a FREE Market Insider report. Ernie and Leah Gonzales 702-291-8126

You now have an accepted offer and the next step your agent says that is going to happen is escrow. What is escrow? Escrow is the time period from executed contract to the closing date. Typically the escrow process takes 30 days to close. However depending upon the type of transaction, escrow can be as short as a few days or as long as 90 days or even longer.

Simply defined, escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of a particular condition or event.

Many important steps take place during the escrow process. First and foremost the buyer deposits the agreed amount of Earnest Money Deposit from the contract into the Title Company. Either the buyer can give a check to the real estate agent to deliver to title or they can wire the funds directly into escrow. This needs to be done within 24 hours of contract acceptance.

The escrow officer at title will follow the instructions of the executed contract and work with the lender to close the transaction. The title company will execute escrow instructions, pull a title report, order all demands and liens, order HOA, complete lender conditions, compile numbers for lender, payoff bills, meet with the buyer and seller to sign documents and then finally record the deed.

Title handles the legal escrow process to transfer ownership, the lender takes care of the loan process during escrow and the real estate agents remove all contingencies during escrow and assist the buyer and seller to get to the closing.

The title company during the escrow process safeguards all parties interests. They are only a third party and must follow instructions that are agreed upon by all parties involved.